The crypto market witnessed a notable movement as Toncoin’s price recently broke out of a key technical pattern. Top analyst Satoshi Flipper shared a detailed chart on X (formerly Twitter) showcasing the bullish momentum in the TON/USDT trading pair.
He described the breakout as “flawless,” highlighting a retest of the breakout zone and a continuation toward higher price targets.
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TON Technical Analysis: Symmetrical Triangle Breakout Validates Bullish Momentum
Toncoin’s price action on the 2-hour chart revealed a classic symmetrical triangle pattern. Market activity has been interesting lately. The price chart showed a triangle pattern forming, which often signals a period of calm before something happens. In this case, the TON price broke through the upper boundary, signaling a potential shift in momentum.
After breaking out, the price pulled back and tested the upper line of the triangle. This is a common pattern traders look for – it confirms that the previous resistance has now become a support level. Traders noticed strong buying interest around $5.40 to $5.50, which matches where this support line sits.
Image Source: X/SatoshiFlipper
Looking ahead, the TON price faces some resistance near $5.70. If buyers can push through that level, the next target zone looks to be between $6.00 and $6.20. Investors are watching these key price levels closely to see how the market might move.
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Post-Breakout Price Channel Supports Uptrend
After confirming the breakout, Toncoin’s price continued its upward trajectory within a newly formed price channel. This trend is characterized by higher highs and higher lows, suggesting consistent bullish momentum. The use of Heikin Ashi candlesticks on the chart further emphasizes this momentum, as minimal downside wicks indicate strong buyer interest.
The upward channel reflects a structured move, with the price now aiming for previous swing highs. A sustained break above $5.70 could pave the way for Toncoin to test $6.00 and potentially higher levels. However, maintaining support near $5.50 is essential to preserve the bullish structure.
Furthermore, Satoshi Flipper described Toncoin’s movement as “cooking” in his recent tweet. He praised the breakout and subsequent continuation with emojis symbolizing bullish momentum (“LFG ”). The tweet reinforces positive sentiment around Toncoin, with the flawless execution of the breakout adding to market confidence.
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Targets and Outlook for Toncoin
If the bullish momentum persists, Toncoin’s price could target $6.00 and possibly $6.20, aligning with prior resistance zones. On the downside, holding above $5.50 remains key to maintaining the uptrend. This technical setup, combined with positive market sentiment, positions Toncoin as a token to watch in the near term.
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The post Toncoin (TON) Price Breaks Out! Elite Analyst Reveals Why $6+ Is Likely appeared first on CaptainAltcoin.
